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Are Coins Going The Way Of Stamps?

 
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United States
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Posted 08/19/2018   12:42 pm  Show Profile Bookmark this topic Add ddreisba to your friends list Get a Link to this Message
I have recently come across, in change, coins that were ten or 15 years old, but looked virtually uncirculated. The government keeps making them, but they are used less and less, just as it does with stamps. Anyone else notice this?

Don
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Posted 08/19/2018   12:53 pm  Show Profile Bookmark this reply Add smauggie to your friends list  Get a Link to this Reply
If you had 100 of any coin just as they come in circulation, it would be almost impossible not to have a coin from the 1960's (with the exception of half dollars and dollars of course). That, plus the fact that the current coinage one gets is on average in pretty nice condition I think is still not enough information to make any kind of conclusion. The US mint produced 14 billion coins last year of which 8.6 billion were pennies.
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APS Member #: 222539 AAPE, Maplewood Stamp Club (MN), Northern Philatelic Society, US Philatelic Classics Society, Auxiliary Markings Club, Canal Zone Study Group, Minnesota Postal History Society
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Posted 08/19/2018   1:17 pm  Show Profile Bookmark this reply Add Petert4522 to your friends list  Get a Link to this Reply
That alone shows that coins are still pretty healthy!

Peter
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Posted 08/19/2018   4:55 pm  Show Profile Bookmark this reply Add raymodj to your friends list  Get a Link to this Reply
Is it time to do away with pennies? Do they have to print that many because they wind up stashed in cars, dressers, jugs, etc since very few people bother to dig out pennies for exact change?

Rounding up might even stimulate the economy.

A penny not minted is a penny earned?
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Posted 08/27/2018   6:20 pm  Show Profile Bookmark this reply Add gmot to your friends list  Get a Link to this Reply
In Canada, we got rid of the penny several years ago, and it was a surprisingly smooth process. Cash transactions are rounded up/down to the nearest nickel, and non-cash transactions are actual amounts. Of course Point of Sale software had to be adjusted, but overall a pretty non-eventual adjustment and people don't seem to miss them.
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Posted 08/27/2018   6:42 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
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Posted 08/29/2018   9:37 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this reply Add eyeonwall to your friends list  Get a Link to this Reply
"coins that were ten or 15 years old, but looked virtually uncirculated. "

Easy to explain. Lots of people just throw their change in a jar or can where it sits for a long time before they turn it in. As it just sits there it doesn't get any wear.

I'm in the dump the penny group.How many tons of metal do they have to mint to produce 8.4 billion pennies each year that just sit and are worth less than they cost to produce?
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Posted 08/29/2018   10:33 pm  Show Profile Bookmark this reply Add JLLebbert to your friends list  Get a Link to this Reply
I agree with eyeonwall about people saving coins in a jar. For many years, my wife & I saved dimes. Then every couple of years or so, when the dime jar was finally full, we would take them to the bank to have them counted. Then we would spend the $200 or so on something fun.
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Posted 08/29/2018   10:45 pm  Show Profile Bookmark this reply Add bookbndrbob to your friends list  Get a Link to this Reply
I never carry pennies and nickels for more than one day; they wear holes in my pockets. They are put in a bowl and then rolled. Somewhere between $4 and $8 they go to the bank, to be exchanged for bills.
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